SOURCE: Kandi Technologies, Corp.
JINHUA, CHINA--(Marketwire - Jun 27, 2012) - Kandi Technologies, Corp. (the 'Company' or 'Kandi') (NASDAQ: KNDI), a leading Chinese manufacturer and developer of pure electric vehicles (EVs) and all-terrain vehicles (ATVs), today announced that Kandi was invited to attend "Green Trip on Electric Vehicles" launch ceremony sponsored and held by Zhejiang Electric Power Corporation together with Yingda Media Group at West Lake Cultural Square in Hangzhou City on June 21, 2012. The Vice President of Zhejiang Electric Power Corporation, Xueming Jiang, the Deputy Secretary of Hangzhou Municipal Government, Likang Zhao, and the CEO of Yingda Media Group, Haixiao Wang together announced the opening of the event by touching the crystal ball. The Vice President of Kandi, Jinfeng Ying delivered a speech to introduce the upcoming pure EV rental project in Hangzhou City and demonstrate Kandi electric vehicles to the event attendees.
The Deputy Secretary of Hangzhou Municipal City, Likang Zhao made remarks at the launch ceremony: "During China's 12th Five-Year Plan (2011-2015) period, the city will add over 20,000 electric vehicles, start the EV rental service in a large scale, exchange EV development experience and explore a green and environmental method for transportation to establish a quality oriental life style city and build a happy and harmonious Hangzhou."
The Vice President of Zhejiang Electric Power Corporation, Xueming Jiang stated that Zhejiang Electric Power Corporation has concentrated on building a battery exchange station system in Hangzhou and Jinhua City, which will allow exchange service within 10 minutes driving distance in urban areas and within 20 minutes driving distance in suburban areas. By the end of 2012, on average, each battery exchange station will be expected to serve about 5 kilometer radius area in urban Hangzhou City and about 4 kilometer radius area in urban Jinhua City.
Mr. Xiaoming Hu, Chairman and CEO of Kandi, commented, "We anticipate that the innovative EV rental business model in Hangzhou will achieve a great success and remain confident about the continuous fast growth of Kandi EVs in the market."
About Kandi Technologies, Corp.
Kandi Technologies, Corp. (NASDAQ: KNDI) is a manufacturer and exporter of a variety of vehicles in China, making it a world leader in the production of popular off-road vehicles (ORVs). It also ranks among the leading manufacturers in China of all-terrain vehicles (ATVs), specialized utility vehicles (UTVs), and a recently introduced second-generation high mileage, two-seat three-wheeled motorcycle. Another major company focus has been on the manufacture and sale of the COCO electric vehicle (EV), a highly economical, beautifully designed, all-electric super mini-car for neighborhood driving and commuting. The convertible and hardtop models of the COCO EV are available in the United States and other countries, while the Chinese government has approved the sale of Kandi EVs in China since 2010. More information can be viewed at its corporate website is http://www.chinakandi.com.
Safe Harbor Statement
This press release contains certain statements that may include "forward-looking statements." All statements other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the risk factors discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on the SEC's website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these risk factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.